Skip to comments.Wealthy Dems Stand by Obama
Posted on 08/10/2010 5:52:49 PM PDT by Bratch
Affluent Americans are Barack Obama's most secure class of support. They have stuck by this president at three to six times the rate of all other income groups since early 2009, based on a RealClearPolitics analysis.
It's a familiar story that wealthy voters have moved toward Democrats in recent years. But the remarkable steadiness of Obama's affluent support has continued with little notice. The national media has instead heavily covered Obama's tepid flings with populism.
You would think Obama's rich support was running to Republicans. It's not. Wall Street money has recently come to favor Republicans. But in broad terms, the affluent Obama vote has barely cracked.
Obama's approval rating has plummeted by 24 percentage points among those with a household income that is less than $50k annually. He's dropped 13 points within the $50k to $100k bloc over the same period. And he's fallen 17 points within the $100k to $150k bloc.
What about those households with income exceeding $150k? Obama has merely declined 4 points, based upon Gallup polling from February-March 2009 (after Obama's honeymoon ended) to June-July 2010.
Obama has tested his upper class support more than any modern presidency. He's continuously pledged to oppose tax hikes on everyone but the wealthy. That pledge is at the center of the current debate over extending the Bush tax cuts. The healthcare overhaul will increase wealthy voters' tax burden. And financial reform was hardly celebrated by the investing class.
This is why The Wall Street Journal headlined a story last summer, "Democrats' New Worry: Their Own Rich Voters." But polls have continuously shown that Democrats have far more reason to worry about those who are anything but rich. This is partly because upper class Democrats are not voting on tax policy. If they were, they'd be Republicans.
(Excerpt) Read more at realclearpolitics.com ...
Its NOT called an Oligarchy for nuthin’...the ‘Bamster is the best thing to hit DC since the New Deal.
Just watch Fox Business - Money Rocks - it does! :)
We are lost then, if he isn't already in line for the chain gang.
After all, Obama's "stash" has done gone away.
Why not? In this country we tax income and consumption, not wealth.
They are set to rape and pillage the nation just like the oligarachs in Russia did. The rich will always stay that way and know that Obama will keep the unwashed masses away from them. Little people need to know their place. Obama surely knows it.
Barack "Baines" Obama placing a signature on the destruction of personal freedom just like 1965.
Limousine liberals know that even if officially their tax rate is 80% of their income they can find every loophole under the sun to pay less than 20% of their income in taxes. Limousine liberals mot important goal is power and the destruction of the conservative Judeo-Christian nature of the American society.
It's there in the 1st and 2nd amendments.
They think they’re aristocracy.
Member of the kulaks, Country class.
Most, if not all people with "old money" have no real world experience, and vote hard left.
BTW...money is no good to “rich people” unless they can spend it...Its all about how they "shelter" it... fix that and the problem is solved!
When did that happen? Best I can determine, the brokerage houses and hedge funds are still in bed with the RATS.
I don’t believe they SHOULD tax wealth. Wealth is already taxed when it is earned. I believe the government has no right to tax that which has already been taxed. I was just stating why the wealthy don’t care if taxes are raised.
Radical liberal elites love the guy - they think he’ll stick it to the middle class for them.
The democrats have become a coalition of the rich and the poor against the middle class.
The elite are aware that they need to buy protection and influence from the Left. The Republicans could not protect their grandmothers from a rapist if fully armed. They would shoot each other.
That is a good way to put it.
Find the numbers here amazing - and the idea of tax refuge per the ‘wealthy’ (not) inasmuch as l50K does not come close to making one a Limosine Liberal.